Thursday, December 25, 2008

Currency Trading Structure

You must learn to initiate and manage your own trades, nothing else is going to work.John Piper explains about the trading pyramid.The trading pyramid consists of You, Commitment,Discipline,Money Management, Risk Control, The Three Simple Rues( ie 1) Cut Your Lossess 2) Run Your Profits 3)Trade Selectively , )System Parameters , Your Methodology, Operation of your methodology in markets, The result ie profit or loss.This is the structure of the Pyramid.Each trader already has such a structure in place but if trading and losing then the pyramid needs to be rebuilt.There should be harmony with each level of this structure.The first three levels You, Commitment and Discipline are personel levels.You have never looked to any markets for these three levels.The next five levels have to do with developing your methodology.Your evolution as a trader will sum up all the levels into you inherently and you develop yourself as a expert trader with intution.This requires hours of deliberate practice in the currency markets.Muraleedharan

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